The solution is bolded in black. I would like for you to explain to Image transcription textColt Inc. is indebted to Kent under an $800,000, 10%, four-year note dated December 31, 2009 when yields onsimilar notes was also 10%. Annual interest was paid on December 31, 2010 and 2011. During 2012 Coltexperienced financial difficulties and is likely to default unless concessions are made. On Decem Show more Show more The solution is bolded in black. I would like for you to explain to me why the answer is D. Show your calculations. Thank you :)Accounting Business Financial Accounting ACCT 352
